Howard Leaman Aug 16/19
Canola traded on both sides of unchanged again on Friday, ending
higher. The market was supported by spillover buying from the soy complex
and European rapeseed, and evening up ahead of the weekend. In addition,
there are still some areas of concern in key North American crop areas that
are keeping some weather premium in the markets. Though wide spread frost
is not expected in western Canada the potential for frost damage due to the
late development of the canola crop is being discussed.
The buying in canola was curbed by strength in the Canadian dollar,
weakness in palm oil, and pending harvest pressure as swathing of canola
begins in parts of western Canada. The Canadian dollar gained about a fifth
of a cent against the U.S. dollar on Friday.
Nov Canola 456.00 448.50
Jan Canola 464.50 456.90
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